Current Weather
The Spy FM

As Markets Roil, A Rush To Gold: A Reported Poem

Filed by KOSU News in Business.
August 11, 2011

With world markets in turmoil, many investors are turning to an age-old safe haven: gold. While the price has fluctuated this week, it has flirted with record highs. But what, exactly, makes this precious metal so valuable? We decided to explore the issue, in verse:

Economic collapse, adrift without maps, lost in a sea with no rudder, Wall Street is jaded, the U.S. downgraded, financial reports make us shudder.

Believing the news, we soon will grow used to a new living standard — and poor Some blame Obama for some of the drama, others the Tea Party more.

The one shining star, of the season so far, the only success — truth be told: Standing out in the crowd, behind the dark cloud, a lining — not silver, but gold.

Historically gold has had a mystical hold on men and women alike: Gold diggers and dust, gold rushes and busts, gold bullion, Goldfinger, gold strike.

From Glenn Beck to Midas, proponents do chide us, gold is the only sure bet. Gaining value and bounce, nearly 2 grand per ounce, it’s now at its highest price yet.

But what is gold’s worth, once yanked from the earth? Is it really so useful and great? Can it help to cure cancer, or provide any answer, for tragedy, bloodshed or hate?

Patrick R. Taylor, a prof and emailer, at Colorado’s School of Mines Explains why gold matters, to the thin and fatcatters, in a few but well-chosen lines:

Gold comes, as a norm, in elemental form due to “resistance to oxidation.” Its value is, therefore, based on rarity, sure, and “as a hedge against inflation.”

But Warren E. Buffett, who sits on his tuffet, making cool millions all day In a Harvard address, quickly confessed, to him nothing golden can stay.

Gold’s “dug out of the ground. …Then we melt it down, dig another hole,” he said. Then “bury it again,” pay guards to defend. A Martian “would be scratching [his] head.”

Yet in tumultuous times, in calamitous climes, we are desperate for something to hold. With bonds being broken and stocks takin’ a pokin’, perhaps all that glistens is gold. [Copyright 2011 National Public Radio]

Leave a Reply

6PM to 6:30PM Marketplace


Hosted by Kai Ryssdal, award-winning Marketplace is public radio's daily magazine of business and economics.

Listen Live Now!

6:30PM to 7PM All Things Considered

All Things Considered

For two hours every weekday, All Things Considered hosts Robert Siegel, Michele Norris and Melissa Block present the program's trademark mix of news, interviews, commentaries, reviews, and offbeat features.

View the program guide!

7PM to 9PM The Oklahoma Rock Show

The Oklahoma Rock Show

The Oklahoma Rock Show filters through dozens of submissions a week to find the best in new local music. Ryan LaCroix is the host and mastermind behind the show and teaches at the Academy of Contemporary Music at the University of Central Oklahoma (ACM@UCO).

View the program guide!

Upcoming Events in your area (Submit your event today!)

Streaming audio and podcasts

Stream KOSU on your smartphone

Phone Streaming

SmartPhone listening options on this page are intended for many iPhones, Blackberries, etc. with low-cost software applications available to listen to our full-time web streams, both News on KOSU-1 and Classical on KOSU-2.

Learn more about our complete range of streaming services

We're perfecting the patient experience - Stillwater Medical Center